Chart of the Week: What are the sources of state tax revenue?

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Mar 10, 2020
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Chart of the Week, Taxes

Hat tip to Jessica for finding this resource on howmuch.net regarding state taxes. 

 

Questions:

  • What are the top 5 sources of state taxes? 
  • Are you surprised by any of these taxes that are collected and the amounts?
  • Which of the state taxes do you think you will pay at some point in your life? 
  • What is the sales tax in your area? 

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Thanks to NGPF super intern Ansh for compiling the last 20+ Charts of the Week in this document. 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.